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Like every entrepreneur, I swim through a ton of emails every day. Mostly from current clients, people interested in my services, and even from a few folks who claim that I won the lotto (and all they need is my bank info to wire the money) . . .
But, every once in a while, readers like YOU send me questions about your businesses. I try my best to answer everyone, but I admit, sometimes I can be a little slow to respond. So, I’d like to share some of these great questions that I’ve been getting lately. These are things that many of you have or will experience at some point as a business owner.
If you have a question for me concerning YOUR business, drop me a line by filling out this form. I promise to do better in responding in a timely manner.
Enjoys these letters to the editor. Leave your two cents in the comments below.
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Susan Long
I am opening a business in a rural town. I want to do it debt free and so far, I have been blessed with the resources I need to make progress every week. Today, I was tempted to purchase the needed equipment at Lowe’s because they have 18 months same as cash. I am hesitant to do this because I don’t know if the business will be successful or not and I don’t want to be stuck with a 3500.00 bill and no extra income to pay for it. Do you have any suggestions?
Hi, Susan, thanks for sending it that great question. To be straight up and honest with you, You know what you have to do. You were hesitant in purchasing that equipment for a reason. You should maximize EVERYTHING that you have first, build up some cash flow, then buy the equipment you want with cash. You mentioned, “I have been blessed with the resources I need to make progress every week.” So what’s the rush?
Take it from me, if you buy that piece of equipment and can’t afford to pay off the debt, it’ll haunt you [and your credit score] for the rest of your life.
Rod
Recommended Resources: 5 Ways to Start a Business without Going into Debt, 5 Free Ways to Market Your Business
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Keven Joslin
Rod,
I subscribe to your blog and I am very happy about the content that you put out. [I'm] not sure if this is in your line of business. I’m a struggling inven-trepreneur (inventor, entrepreneur) who would like to start his own business but [with] the economic downfall of this country it is virtually impossible to obtain a loan. Other alternative would be VC or Angel investor.
So I have decided to license my invention to manufacture[s] or companies intrested in my invention. Do you have any advice.
Regards,
Kevin
Thanks, Kevin!
It typically costs inventors more in bringing the idea to life than it does to bring it to market. So, I feel your frustration with the economy and the need for capital for your invention. However, until you can land a big licensing deal, manufacturing partner, or business partner; look to alternative methods of bringing your invention to market. For instance, go the back-door-route and instead of focusing on the product, think of your marketing. Partners, venture capitalist, and etc. make it easy for brands with public support to get money. Start building a platform for your invention to launch from.
Start networking on Linkedin and getting involved with angel investor groups online. Get a community to rally around your knowledge, wisdom, and understanding of the issues the product is supposed to solve [Blogging is an excellent way to do this!].
Once you have your platform built, brand set, and community ready, it’ll be a lot easier finding the funding you need to manufacture your product!
Rod
Recommended Resources: HOW TO: Build a Brand for Your Business, HOW TO: Build a Marketing Base for Your Business
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Dan Black
I have a quick question for you. I have a blogspot.com account but want to have my own website (with the ability for people to easily subscribe to my blog, follow me on social networking sites, re-posting ability.) Your website is a great example!
I have been researching godaddy.com and bluehost,com. I was wondering where you go for your hosting and web design? And any recommendations would be appreciated.
Thank you, Dan Black
Hey, Dan, thanks for the compliment. One thing I’ve figured out, whenever you start self-hosting your blog, you’re never done “setting it up.” You’ll always find something to tweak, change, add, or subtract.
Godaddy and Bluehost are great web hosts and are very affordable for setting up a blog (especially WordPress). However, I swear by my host, Fused Network [Aff link]. They’re not cheap but they won’t cost you your first unborn child either. I’ve been with them for almost 2 years and their service pays for itself over time.
I’m glad to hear you’re ready to move from a “free blog” to a self-hosted version. The benefits of which are; the ability to make money online (ad revenue, sponsorships, affiliate sales, etc), the ability to build a community, the community to launch a brand, and more!
Selecting a web host is actually the easy part. It’s actually developing a blog that’ll achieve the goals you want that’s the tough part. However, I’ve got a ton of tools for you on my resources page. Check it out whenever you get a chance.
Best of luck!
Rod
Recommended Resources: 4 Pillars to Building a Successful Blog, 7 Keys to Blogging Success
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Need some advice on how to market your business? Are you stuck in an entrepreneurial rut? Get help by writing me here!
Note: All of the recommended resources come from the Best Of page. Check out even more tips and my best advice for business success!
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About The Author

Rod Kirby
Rod Kirby helps entrepreneurs, small business owners, and organizations
take advantage of social media marketing and new media through his company,
Kirby Enterprises.
Follow Rod on
Twitter here.
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